Top 10 Mortgage Lenders in Michigan for 2024
The Michigan mortgage market continues to evolve in 2024, shaped by shifting interest rates, increased homebuyer demand, and the dominance of key players in the lending industry. Whether you’re a first-time homebuyer, looking to refinance, or searching for the best mortgage rates, knowing the top mortgage lenders in Michigan can help you make an informed decision.
This article highlights the top 10 mortgage lenders in Michigan based on estimated 2024 loan volume, industry trends, and lender reputation.
Understanding Michigan’s Mortgage Landscape in 2024
Michigan’s housing market remains competitive despite fluctuations in mortgage rates. Lenders with strong digital platforms, customer service excellence, and local expertise have continued to thrive. The following list provides an overview of the top mortgage lenders serving Michigan homebuyers, detailing their loan volume, headquarters, and links to their official websites.
Top Mortgage Lenders in Michigan for 2024
1. Rocket Mortgage
- Estimated 2024 Loan Volume: ~$13.0 billion
- Headquarters: Detroit, Michigan
- Website: Rocket Mortgage
Rocket Mortgage remains the leading mortgage lender in Michigan, leveraging its digital-first platform to offer fast approvals and competitive rates. With its headquarters in Detroit, Rocket Mortgage continues to dominate the state’s mortgage market.
2. United Wholesale Mortgage (UWM)
- Estimated 2024 Loan Volume: ~$8.5 billion
- Headquarters: Pontiac, Michigan
- Website: UWM
As the largest wholesale mortgage lender in the U.S., UWM works exclusively with independent brokers to provide borrowers with various mortgage options. Its strong presence in Michigan keeps it as a top lender in the state.
3. Lake Michigan Credit Union
- Estimated 2024 Loan Volume: ~$5.0 billion
- Headquarters: Grand Rapids, Michigan
- Website: Lake Michigan Credit Union
Lake Michigan Credit Union is a top-rated lender offering competitive mortgage rates, personalized service, and community-focused lending. As a Michigan-based credit union, it provides a local advantage to homebuyers.
4. Flagstar Bank
- Estimated 2024 Loan Volume: ~$3.8 billion
- Headquarters: Troy, Michigan
- Website: Flagstar Bank
Flagstar Bank has been a trusted mortgage provider in Michigan for years, offering a wide range of home loan products, including FHA, VA, and jumbo loans.
5. Chase Bank
- Estimated 2024 Loan Volume: ~$3.2 billion
- Headquarters: New York City, New York (serving Michigan extensively)
- Website: Chase
Chase provides Michigan homebuyers with various mortgage options, from fixed-rate to adjustable-rate loans. Its strong financial backing and Michigan branches make it a reliable lender.
6. Fifth Third Bank
- Estimated 2024 Loan Volume: ~$2.5 billion
- Headquarters: Cincinnati, Ohio
- Website: Fifth Third Bank
Fifth Third Bank remains a top mortgage lender in Michigan, with a strong regional presence and a mix of conventional and government-backed loan products.
7. Wells Fargo
- Estimated 2024 Loan Volume: ~$2.2 billion
- Headquarters: San Francisco, California
- Website: Wells Fargo
Wells Fargo continues to be a major player in Michigan’s mortgage market, offering competitive loan options and strong customer support.
8. Mortgage 1 Inc.
- Estimated 2024 Loan Volume: ~$2.0 billion
- Headquarters: Michigan (local lender)
- Website: Mortgage 1 Inc.
Mortgage 1 Inc. is a Michigan-based lender with a focus on helping local homebuyers navigate the mortgage process with ease and expertise.
9. Caliber Home Loans
- Estimated 2024 Loan Volume: ~$1.9 billion
- Headquarters: Irving, Texas
- Website: Caliber Home Loans
Caliber Home Loans is a well-established national lender with a growing presence in Michigan, offering customized mortgage solutions.
Conclusion
The Michigan mortgage market in 2024 is highly competitive, with both local and national lenders providing a variety of financing options. Whether you prioritize digital convenience, local expertise, or traditional banking services, the top lenders listed above offer strong choices for Michigan homebuyers.
As mortgage rates and housing trends evolve, staying informed about lender offerings and loan options will help you secure the best possible financing for your home purchase or refinance.
For more details on mortgage rates, loan programs, and eligibility requirements, visit the official websites of the lenders mentioned above.